TECH IN ASIA
 
Startups, take notice. Singapore and Hong Kong might be great hubs for entrepreneurs and investors, Indonesia’s future earning potential might be incredibly appealing, and China’s vast economy might be enough to power your startup for years, but Japan now holds the title of most important partner in the region according to both ASEAN nations and the United States.
 
Japan has taken the crown from China, which had enjoyed a steady period of popularity in both Southeast Asia and the United States. That streak has come to an end according to the latest results from Nielsen Consumer Insights. For the first time since 2009, the yearly poll arranged by Nielsen (at the bidding of Japan’s Foreign Ministry) shows that both opinion leaders and the general public in America think Japan is the most important country for the US in Asia.
 
The results are a complete reversal from 2013. Japan enjoyed a healthy bump from the last year’s results. 46 percent of the general public now feels that the island nation is the most important partner, versus 35 percent in 2013. China had an equivalent slip, going from 39 percent share in 2013 to 26 percent in 2014. The same trend can be seen among opinion leaders. China fell from 43 percent to 24 percent while Japan rose from 35 percent to 46 percent.
 
The biggest difference between the two years is the introduction of Japan’s economic revitalization plan, Abenomics. The plan has produced largely positive press that shows Japan as an economy in upward recovery, a strong contrast to the steady stream of “China’s Weakening Economy – What it Means for You” articles.
 
The just-released US results mirror an Ipsos Hong Kong opinion poll from this past March. Also commissioned by the Japanese Foreign Ministry, this poll targeted ASEAN countries (Indonesia, Malaysia, the Phillipines, Singapore, Thailand, Vietnam, and Myanmar). There, 60 percent of respondents saw Japan as the most important partner for the region compared to China at 48 percent.
 
The ASEAN poll was last administered in 2008. China took the top spot then.
 
The changing landscape should be instructive for startups looking to expand outside their home countries. Business and political leaders, as well as everyday citizens, are looking at the state of the region and identifying Japan as the place they trust and want to rely on.
 
Sometimes finding opportunity is about not following popular sentiment but, if a startup wants to ride the wave, kicking the tires on Japan might not be such a bad idea. At the very least, the boom of Japanese venture capital funds targeted for Southeast Asia (see examples here, here, here, and here), shows that there will likely be a receptive audience.